tricycle lithium battery

Intensive Policy Rollouts Unlock a Hundred-Billion-Yuan Incremental Market

        Policy dividends across multiple countries are opening up growth space for the tricycle lithium battery market. Southeast Asia has developed a clear electrification roadmap: Indonesia has set a hard target of 20% electrification rate by 2025, with a maximum subsidy of 3,200 yuan per vehicle; Thailand has launched the EV 3.5 Program, implementing a 40%-60% tariff reduction on imported electric vehicles; the Manila municipal government in the Philippines has even allocated 5 million US dollars in special subsidies for the electric tricycle replacement program. Driven by this policy momentum, the scale of Southeast Asia's electric two-wheeler and tricycle market has expanded rapidly. McKinsey predicts that the regional stock will reach 59 million units by 2030, corresponding to a battery demand of up to 88 GWh. The African market has also seen frequent policy launches: Kenya has rolled out a national electric transportation plan, aiming to exceed 200,000 electric motorcycles in ownership by the end of 2024, along with supporting tax incentives and financial support policies; Ghana has announced an 8-year tariff exemption on imported electric vehicles for public transportation, with additional value-added tax benefits for domestic assembly; Zimbabwe has reduced the import tariff on electric vehicles from 40% to 25%, while planning tax holidays to support local production capacity. Driven by these policies, the scale of Africa's electric tricycle market reached 19.53 million US dollars in 2024 and is expected to soar to 48.14 million US dollars by 2030, with a compound annual growth rate of 16.2%. The global market scale is expanding simultaneously. According to industry reports, the global lithium-ion battery electric tricycle market reached 15 billion US dollars in 2025 and is projected to grow to 35 billion US dollars by 2030, with a compound annual growth rate of 10.5%. Among this, the Asian market contributes more than 70% of the share.